21 May 2025

The Pune Municipal Corporation (PMC) is set to launch a pilot project introducing water bills based on actual consumption for residential properties within its limits. This initiative forms part of the city's ongoing 24-7 water supply programme, which aims to promote water conservation and ensure fair distribution. The pilot will begin in zones where over 90% of water meters have been installed, covering about 80 of the 141 designated areas. While many residents have welcomed this move, concerns remain about the adequacy of water supply and the fairness of billing, prompting PMC to assure a measured and transparent implementation.Read more

21 May 2025

Anarock Group has demonstrated remarkable growth in the fiscal year 2024-25, posting a 33% increase in revenue to INR 755 crore, up from INR 566 crore the previous year. This surge is largely attributed to India's strong economic momentum, which has fuelled demand across residential and commercial real estate sectors. Housing consultancy continues to dominate the revenue share, contributing approximately 56%, while expansion into office leasing consultancy has gained significant traction since its launch earlier this year. Additionally, the company secured INR 200 crore in funding to support strategic acquisitions aimed at bolstering its market position. This growth reflects Anarock's strategic agility and optimistic outlook amid ongoing market challenges.Read more

21 May 2025

IRB Infrastructure Developers Ltd reported a 14% increase in net profit for the March quarter of FY25, recording INR 214.7 crore, up from INR 188.8 crore in the same quarter of the previous fiscal year. The rise in profit was driven by increased revenue from operations, which grew to INR 2,149.2 crore from INR 2,061.2 crore. Expenses decreased to INR 1,895.3 crore, contributing to the profit growth. For the entire FY25, net profit surged significantly to INR 6,480.6 crore compared to INR 605 crore in FY24. The company's toll revenue rose by 23% to INR 6,360 crore for FY25, driven by the commencement of two TOT projects that outperformed expectations. The company remains optimistic about further growth through BOT and TOT bids in alignment with the government's infrastructure push.Read more

20 May 2025

Signatureglobal (India) Ltd reported a 48.17% increase in net profit for Q4 FY25, reaching INR 611.2 million, despite a 21.07% decline in total income to INR 5.70 billion. The company achieved record pre-sales of INR 102.9 billion and collections of INR 43.8 billion for FY25, marking 42% and 41% year-on-year growth, respectively. Operating cash surplus rose by 79% to INR 16.3 billion. Signatureglobal launched five new projects with a combined GDV of INR 138.1 billion and acquired approximately 48 acres of land in Gurugram for INR 10.7 billion, aiming to develop 7.97 million sq ft. Net debt was reduced to INR 8.8 billion by the end of FY25.Read more

20 May 2025

Property consultant Square Yards has reported a 41% increase in revenue, reaching INR 1,410 crore in the previous fiscal year, primarily due to higher brokerage income from housing sales and home loans. The company's revenue in the prior fiscal year was INR 1,001 crore. Square Yards revealed that its India revenue climbed 47% to INR 1,163 crore, up from INR 790 crore in the 2023-24 financial year. Additionally, gross profit surged by 52% to INR 316 crore, compared to INR 208 crore in the preceding year. The company's founder and CEO, Tanuj Shori, highlighted that Square Yards has positioned itself as a robust asset-light platform with a strong presence in both India and Dubai.Read more

20 May 2025

Star Housing Finance Limited (Star HFL), a BSE-listed housing finance company focusing on affordable housing in semi-urban and rural regions, has announced plans to list its equity shares on the National Stock Exchange of India Limited (NSE). The move is part of the company's broader strategy to increase visibility, enhance shareholder liquidity, and attract a wider investor base. The proposed listing is subject to regulatory approvals and the fulfilment of eligibility criteria. Star HFL, which has consistently delivered strong performance in the low-cost housing finance sector, remains committed to serving economically weaker and low-income groups while aiming to expand its market footprint.Read more

20 May 2025

State-owned NBCC (India) Ltd has successfully generated INR 1,468 crore by selling 446 apartments in Noida through an e-auction. According to a regulatory filing made earlier this week, the company disclosed that these residential units were part of the Aspire Silicon City project located in Sector-76, Noida. The transaction is expected to aid NBCC in repaying debts incurred for completing stalled projects under the Amrapali Stalled Projects Investments Reconstruction Establishment (ASPIRE), a scheme initiated under the directive of the Supreme Court. The sale also entitles NBCC to a 1 per cent marketing fee based on the total transaction value.Read more

20 May 2025

In a significant regulatory shift, the Securities and Exchange Board of India (SEBI) has mandated the use of the Electronic Book Platform (EBP) for all private placements of debt securities amounting to INR 20 crore or more. This directive, introduced earlier this week, aims to enhance transparency and streamline the fundraising process in the private debt market. The scope of EBP has been broadened to include Real Estate Investment Trusts (REITs) and Infrastructure Investment Trusts (InvITs), marking a substantial expansion from previous regulations. Additionally, new provisions concerning anchor investors and disclosure requirements have been established to promote fairness and accountability in allotments.Read more

19 May 2025

Nagpur's stamp duty collections for the fiscal year ending March 2025 fell 7% short of the target, collecting INR 1,675 crore against the projected INR 1,800 crore. The shortfall is linked to a slowdown in real estate deals and modest 4-5% increases in ready reckoner rates. Rural collections also missed targets by 3%. Despite this, officials are hopeful after recent ready reckoner hikes of up to 10% in some areas, which could boost future revenues. Nagpur Municipal Corporation faces further financial strain from undelivered property tax bills and low tax recovery, leading to a penalty waiver scheme. Improving collection efficiency is vital for the city's finances and infrastructure development.Read more

19 May 2025

The Securities and Exchange Board of India (SEBI) has cautioned investors about Strata SM Reit, a new-age investment platform that aimed to launch multiple real estate investment schemes. Strata, backed by Sudarshan Lodha and Priyanka Rathore, surrendered its SM Reit registration after legal troubles and discussions with SEBI. The regulator clarified that Strata can no longer present itself as a registered intermediary. This comes as the regulator tries to tighten rules around fractional ownership of real estate to protect investors. While Strata denies wrongdoing, SEBI's action highlights the need for caution when investing through untested digital real estate platforms.Read more